Becker-Peth, Michael ORCID: 0000-0002-4496-7702, Hoberg, Kai and Protopappa-Sieke, Margarita (2020). Multiperiod Inventory Management with Budget Cycles: Rational and Behavioral Decision-Making. Prod. Oper. Manag., 29 (3). S. 643 - 664. HOBOKEN: WILEY. ISSN 1937-5956
Full text not available from this repository.Abstract
We examine inventory decisions in a multiperiod newsvendor model. In particular, we analyze the impact of budget cycles in a behavioral setting. We derive optimal rational decisions and characterize the behavioral decision-making process using a short-sightedness factor. We test the aforementioned effect in a laboratory environment. We find that subjects reduce order-up-to levels significantly at the end of the current budget cycle, which results in a cyclic pattern during the budget cycle. This indicates that the subjects are short-sighted with respect to future budget cycles. To control for inventory that is carried over from one period to the next, we introduce a starting-inventory factor and find that order-up-to levels increase in the starting inventory.
Item Type: | Journal Article | ||||||||||||||||
Creators: |
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URN: | urn:nbn:de:hbz:38-127423 | ||||||||||||||||
DOI: | 10.1111/poms.13123 | ||||||||||||||||
Journal or Publication Title: | Prod. Oper. Manag. | ||||||||||||||||
Volume: | 29 | ||||||||||||||||
Number: | 3 | ||||||||||||||||
Page Range: | S. 643 - 664 | ||||||||||||||||
Date: | 2020 | ||||||||||||||||
Publisher: | WILEY | ||||||||||||||||
Place of Publication: | HOBOKEN | ||||||||||||||||
ISSN: | 1937-5956 | ||||||||||||||||
Language: | English | ||||||||||||||||
Faculty: | Unspecified | ||||||||||||||||
Divisions: | Unspecified | ||||||||||||||||
Subjects: | no entry | ||||||||||||||||
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Refereed: | Yes | ||||||||||||||||
URI: | http://kups.ub.uni-koeln.de/id/eprint/12742 |
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